DURATEC LIMITED — Capital/Financing Update 2024

Oct 16, 2024

==> picture [594 x 155] intentionally omitted <==

----- Start of picture text -----

ASX ANNOUNCEMENT
----- End of picture text -----

17 October 2024

DEFENCE SECTOR CONTRACT UPDATE

HIGHLIGHTS

• Duratec Ertech Joint Venture (DEJV) selected by Department of Defence to undertake the Early Contractor Involvement (ECI) Head Contract for the Planning Phase of two critical infrastructure projects at HMAS Stirling

• Subject to the successful completion of the ECI Planning Phases, a Delivery Phase for both projects will follow

Duratec Limited (ASX: DUR ) in a 50:50 joint venture with Ertech has been awarded two contracts with the Department of Defence ( Defence ) for the Planning Phases of the Maritime Infrastructure upgrade and the Controlled Industrial Facility and supporting facilities and infrastructure works at HMAS Stirling, Western Australia.

The first contract award, valued at $1.9m (Planning Phase value), involves infrastructure upgrades to support future submarine capability at HMAS Stirling. This contract represents the fourth Maritime Infrastructure project secured by the DEJV at HMAS Stirling over the last five years and a continuation of works for our established local teams that have been on site since 2017.

The Planning Phase will commence immediately and run for 10 months, subject to the successful completion of the ECI, a delivery phase will commence in 2025 with completion expected in 2027.

The second contract award, valued at $8.1m (Planning Phase value), involves planning for the provision of fit-forpurpose, nuclear regulatory compliant facilities to support the expansion and enhancement requirements of Defence’s infrastructure upgrade at HMAS Stirling under the Australia – United Kingdom – United States (AUKUS) partnership.

The Planning Phase will commence imminently and run for 10 months, subject to the successful completion of the ECI, a delivery phase is anticipated to commence in 2025 with completion expected in 2027.

Duratec Managing Director, Chris Oates, commented:

“Our Defence sector strategy is closely aligned with the recent Defence Strategic Review and these awards demonstrate Duratec’s marine infrastructure capabilities and recognises our ability to consistently deliver largescale projects in this sector. Our long-standing relationship with the Department of Defence is important to us and we look forward to collaboratively working alongside our client through the Planning phase.”

Authorised for release to the ASX by Chris Oates, Managing Director.

– ENDS –

==> picture [65 x 12] intentionally omitted <==

Duratec Limited ABN 94 141 614 075 ASX code: DUR

108 Motivation Drive, Wangara WA 6065 08 6206 6900 investor.relations@duratec.com.au duratec.com.au

Contact

Ollie McKeon

Executive Manager – Corporate, Strategy & Investor Relations Duratec Limited Investor.relations@duratec.com.au

About Duratec Limited

Duratec Limited (ASX: DUR) is a leading Australian contractor providing assessment, protection, remediation, and refurbishment services to a broad range of assets and infrastructure. The Company’s multi-disciplined capabilities combine engineering experience with project delivery expertise and use a range of in-house assessment technologies, including 3D capture and modelling technology with predictive analysis tools. Headquartered in Wangara, Western Australia, Duratec has 20 locations around the country in capital cities and regional centres, delivering services across multiple sectors including Defence, Commercial Buildings & Facades, Infrastructure (Water, Transport & Marine), Mining & Industrial, Power and Energy.

Please visit www.duratec.com.au for further information.

This release contains certain forward-looking statements and forecasts, including in relation to possible or assumed future performance, costs, dividends, rates, prices, revenue, potential growth of Duratec Limited, industry growth or other trend projections. Such statements are not a guarantee of future performance and involve unknown risks and uncertainties, as well as other factors which are beyond the control of Duratec Limited. Actual results and developments may differ materially from those expressed or implied by these forwardlooking statements, depending on a variety of factors.

Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information, the Company does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.